Diversified Trust Co. Reduces Stock Position in nVent Electric PLC $NVT

Diversified Trust Co. lessened its stake in nVent Electric PLC (NYSE:NVT) by 67.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,837 shares of the company’s stock after selling 7,898 shares during the period. Diversified Trust Co.’s holdings in nVent Electric were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TABR Capital Management LLC purchased a new position in nVent Electric in the fourth quarter worth about $3,284,000. Continuum Advisory LLC purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $1,630,000. Nordea Investment Management AB lifted its stake in shares of nVent Electric by 10.0% in the 3rd quarter. Nordea Investment Management AB now owns 129,655 shares of the company’s stock worth $12,671,000 after purchasing an additional 11,804 shares during the period. Pacer Advisors Inc. lifted its stake in shares of nVent Electric by 51.0% in the 3rd quarter. Pacer Advisors Inc. now owns 30,535 shares of the company’s stock worth $3,012,000 after purchasing an additional 10,307 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of nVent Electric by 173.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company’s stock worth $5,214,000 after buying an additional 33,549 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Barclays upped their price objective on nVent Electric from $140.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Wolfe Research raised nVent Electric to an “outperform” rating in a report on Monday, February 9th. Finally, UBS Group reiterated a “buy” rating and set a $135.00 target price on shares of nVent Electric in a research report on Friday, March 13th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.50.

nVent Electric Price Performance

NYSE NVT opened at $116.95 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $129.94. The stock has a market cap of $18.91 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.22 and a beta of 1.31. The company’s 50 day moving average is $114.87 and its two-hundred day moving average is $107.23.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The company’s revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, research analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is currently 19.53%.

Insider Activity

In other news, Director Susan M. Cameron sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the transaction, the director directly owned 13,405 shares in the company, valued at $1,535,140.60. The trade was a 27.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Beth Wozniak sold 7,597 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the transaction, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This trade represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,841 shares of company stock worth $2,046,166 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.